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Friday, September 11, 2015 4:37:50 AM
Continental has announced that it is reducing CAPEX between $300 million and $350 million in total, deferring completion activity - the E&P will grow its estimated DUC (drilled uncomplete) inventory from 100 to 160, and laying down 20% of its rig capacity by month end.
Continental did, however, reiterate its full year 2015 production guidance of between 19% and 23% growth which investors can take as a moral victory from this announcement.
Purely My Own Opinion. Do Your Own Due Diligence.
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